Growth Street are still delivering on 30 day loans. All I really do with Growth Street are look at the account once per month when I post this update on my website. It’s all automatic and I haven’t seen any cash drag at all for the last several months.

If you have some cash you need to keep relativity liquid, but want to get a decent return on, you could do a lot worse than Growth Street. Also don’t forget Assetz Capital’s 30 Day Access Account paying 5.1%. And also the new lender, Loanpad has a similar account paying 5% actual (about 5.3% compounded), read on for more information on Loanpad further down the post.

You can see below how Growth Street works automatically. Loan parts were broken up into £100 chunks when I first invested. Then each 30 days, the loan part and it’s income are reinvested in to new loans.

Growth Street is where I keep my “almost an emergency” capital in GBP. The “almost” part is because it takes 30 days to get my money out, but with a return rate of 5.3% it’s a very good option. Income is steady and loan parts are broken up each month as new 30 day loans are established. Don’t forget Assetz Capital’s 30 day access account paying 5.1% too. I also added a new lender, Loanpad which has a similar account, read on for more information on Loanpad further down the post.

For a decent rate with 30 day access to your capital, Growth Street is a great option at 5.3% return. Of course you can get 5.10% in Assetz Capital’s 30 day account as well so diversification is easy for people who need relatively liquid capital.

Growth Street is still my favorite (relativity) short term investment. At 5.3% return for 30 day loans I like knowing that at any time I can turn off auto-invest and have my capital back within 30 days. Other P2P Lenders have “Tracker” or “Easy Access” accounts which enable instant access to capital (under normal market conditions) but they don’t pay 5.3%. Assetz Capital’s Quick Access Account (QAA) is the closest but still only runs at 4.1%.

Growth Street were seeing a little bit of cash drag (funds waiting to be invested) but that has totally gone away now as their loan flow has increased a lot. So much in fact they are looking for new investors, and as such are offering a £200 cashback bonus for a £5000 investment at the moment, which is very good considering the rates they regularly pay. You can read more about it here.

I also added a screenshot below of transactions that go on automatically in the background. You can read more about how Growth Street works in my Growth Street Review.

Growth Street just keeps plodding along. According to their calculations, I will have achieved 5.3% return by the end of the first 12 month period. XIRR is showing 4.27% which would seem about right considering the short data points we have, and no future compounding considered. Growth Street are running a great short term cashback bonus until December 14th for investing specific levels of capital (click here for more info). I considered sending more cash over there to take advantage of the cashback, but it would take me a while to get it there as it is tied up. I’m also trying not to put too much cash with a single lender so I think I’ll give it a miss this time unless something unexpected happens to where I have to move cash from another lender for some reason.

Growth Street always seems to be very quiet when I log in to my account. The cash drag I was seeing a little bit seems now to be gone. Capital seems to be loaned out the same day, as soon as it is repaid, or if not the following day. It’s interesting when you dig down in to the transactions screen though, to see that there are many small transactions going off in the background automatically.

The Growth Street account summary screen shows the capital invested, returns and money waiting to be loaned out. It is possible to see the loans you’re invested in, but really it makes no difference. It all happens automatically and even if a loan goes bad Growth Street has a provision fund so under normal market conditions we should continue to get the rate shown (currently 5.3%).